Section 1850-A. Legislative declaration

It is hereby declared that the need
  for obtaining and maintaining an adequate and continuous supply of safe,
  dependable  and  economical  power  and  energy  is  a matter of serious
  concern to the people of the state; that accelerated development and use
  within the state of new energy technologies to supplement energy derived
  from existing sources will promote the state's economic growth,  protect
  its  environmental values and be in the best interests of the health and
  welfare of the state's population; and that  such  development  and  use
  requires   special   efforts   to   foster  research,  development,  and
  demonstration in the  methods  of  production  and  use  of  new  energy
  technologies.  The  objective  of  this  title  is  the  development and
  utilization of safe, dependable, renewable and economic  energy  sources
  and the conservation of energy and energy resources.
    It  is further declared that implementation of this objective can best
  be effectuated by changing and reconstituting the New York state  atomic
  and  space development authority into the New York state energy research
  and development authority. While maintaining its present commitments  to
  its  bondholders,  the  authority  shall  direct  its efforts toward the
  development  of  new  energy  technologies,  with  special  emphasis  on
  renewable energy sources and energy conservation technologies.
    It  is further declared and found that the objective of this title can
  be achieved by (1) continuing the  authority's  authorization  to  issue
  bonds  and  notes  and to lend or otherwise apply the proceeds therefrom
  for the benefit  of  gas  and  power  companies  in  financing  projects
  including,  without limitation, experimental or developmental facilities
  implementing new  energy  technologies,  pollution  control  facilities,
  facilities  required  by  the  public  interest  in development, health,
  recreation, safety, conservation of natural  resources  and  aesthetics,
  and  facilities  for  the  furnishing of electric energy or gas, and (2)
  empowering the authority to  issue  bonds  and  notes  and  to  lend  or
  otherwise  apply  the  proceeds  therefrom  to  finance  special  energy
  projects for the benefit of persons in the state.